can i get full coverage on a vehicle listing me as sole operator if I use someone elses car

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I am going to rent a car from someone to use as my personal transportation. The title will remain in the owner’s name. We do not live in the same household and the vehicle will be garaged at my home. Can I get full coverage insurance for this vehicle?”

Asked October 30, 2015

1 Answer

In order to successfully insure a vehicle that you do not, in fact, own, you will need to prove that you have a very good reason to do so. This is otherwise known as insurable interest." Owners of vehicles have insurable interest simply because they stand to lose something in the event of a car accident. On the other hand, you wouldn't necessarily lose anything because you don't actually own the vehicle. The trick will inevitably be proving you have insurable interest.

Unfortunately, this can be hard to prove. Even parents often have trouble insuring their vehicles that are in their children's names. As you could imagine, this means you will likely run into problems with auto insurance companies and the DMV.

If you were to speak to an insurance agent about this, he/she would probably recommend the following: re-register the vehicle so that it includes both your name and the name of the other party. The DMV will be able to help with this. The other party will need to be present in order to do this.

From here, you will make regular premium payments on the vehicle. Fortunately, you do not have to be the policy holder to make payments. In fact, you don't have to be listed as a driver at all to completely fund an insurance policy. While this method is technically legitimate, it can also come with problems. For example, if your relationship were to change in some way with the owner of the vehicle, this could disrupt your access to the vehicle. To prevent major problems ahead, talk about listing yourself as a driver on the insurance policy with the other party.

This is easily the most hassle-free way to go about insuring a vehicle that doesn't belong to you.""

Answered October 30, 2015 by jlmadagar

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